BANGKOK, March 31 (TNA) – Thailand’s Industrial Production Index (IPI) in February continued shrinking, by 23.07 per cent, dampened by a plunge in auto and electronics production, according to the Industrial Economics Office (IEO).
IEO Director-General Arthit Vuthikaro said although the index picked up slightly from the 25.6 per cent registered in January, the country’s main industries contracted, which resulted in a decline in production capacity utilization in February to 50 per cent compared with 51.7 per cent in January.
The auto industry continued to take the heavy brunt with vehicle production plunging by 50.64 per cent in February compared with 35.59 per cent in January.
He attributed the vehicle and electronics production plunge to the continued decline in exports and local sale sluggishness.
The local auto sales halted to a standstill since buyers are waiting for the government’s clear stance on a possible reduction in excise taxes as requested by industrial-sector operators.
Vehicle sales in February contracted 45.6 per cent with the production capacity utilization dropping to 41.75 per cent.
For motorcycles, the Industrial Production Index continued contracting to 51.35 per cent in February from 40.80 per cent in January.
For the electrical appliance and electronics industries, the air-conditioning production in February contracted by 57.62 per cent compared with a drop of 39.33 per cent.
The hard disk drive production dropped by 19.65 per cent compared with 31.03 per cent in January.
Electronic parts production sank 40.65 per cent compared with 58.02 per cent per cent in January.
Although the Industrial Production Index dropped slightly, the situation remains uncertain.
Purchase orders placed in March and April must be evaluated to see whether the economic difficulties had already bottomed out, he said. (TNA)
Business News : Last Update : 09:08:16 31 March 2009 (GMT+7:00)
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